The prices of precious metals went up on Thursday with gold rising more than 1% as economic worries remained in the spotlight. The uncertainty over what effects United States President Donald Trump's tariffs might have seemingly pushed investors toward traditional safe-haven assets.

Meanwhile, earlier today, data showed that the US gross domestic product (GDP) grew 2.3% in the fourth quarter of 2024 on an annual basis, falling short of analyst expectations.

Gold jumped 1.07% at 8:44 am ET, going for $2,784. At the same time, silver surged by 1.58%, selling at $31.25. At 8:45 am ET, platinum gained 1.41%, going for $965.16, while palladium advanced by 1.98%, selling at $974.37.